Banking Infrastructure providers operate in the Infrastructure & Enterprise Software subsector of FinTech and offer solutions ranging from core banking software, to digital transformation and API functionality.
OneConnect provides financial technology solutions to small and medium-sized banks. OneConnect is built on five core technologies, namely AI, big data, blockchain, cloud platform and biometrics and has served over 400 banks and 2,300 financial institutions. The Shanghai-based company, which is a subsidiary of Chinese financial conglomerate Ping An, raised $650m in a Series A round led by SoftBank Vision Fund in February 2018. This is the largest Banking Infrastructure deal to date and the company is exploring a New York IPO in addition to applying for a banking license in Singapore.
Avaloq is a leader in core banking software, digital banking and digital wealth management, providing solutions to digitize the automation of the financial services industry. The company raised $349.4m of private equity funding led by Warburg Pincus in Q1 2017. This deal was completed at a $1bn valuation and is the largest FinTech deal in Switzerland to date.
Plaid is the technology platform providing the tools and access needed for the development of a fully modern, and digitally-enabled financial system offering solutions applicable to not only the largest financial institutions but the smallest FinTech startups also. The San Francisco-based company raised $250m in a Series C round in December 2018. This funding, which valued the company at over $2.6bn, was led by Kleiner Perkins and Index Ventures, and Plaid has now integrated its technology with more than 10,000 banks in the US and Canada.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2019 FinTech Global
